InterOil Turns on Taps at 2 More Mirador Wells

InterOil has just completed two more successful production wells in Peru producing in excess of 1000 bopd, ie 500 bopd each. The wells are tied into the company's production facilities. Interoil has a 100% interest.

InterOil has drilled two more production wells in the Mirador area of Block III in Peru. These two wells are in the eastern area of the Mirador area and encountered two significant oil bearing sands. Due to pressure differences in the two layers, only one sand interval has been perforated leaving a significant production upside in the wells.

"The Mirador area of Peru continues to give us encouragement, particularly in the Eastern part of the field where we are now drilling. The wells all have significant oil columns, and there are new sand sequences that previously have not been encountered. With production at 500 bopd from these sequences, we are very encouraged that over time, we will be able to continue and maintain increased production from these wells," said Nils N. Trulsvik, CEO of InterOil E&P ASA.

InterOil has also started its 3D survey in the area which will be acquired over the next month. This survey will aid us in optimizing its development plan for the Mirador area.